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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Real estate income, net      
Rental income $ 1,009.0 $ 919.1 $ 897.8
Real estate property level expenses and taxes:      
Operating expenses 218.1 207.4 208.0
Real estate taxes 158.7 144.4 134.1
Interest expense 85.8 81.1 98.7
Total real estate property level expenses and taxes 462.6 432.9 440.8
Real estate income, net 546.4 486.2 457.0
Income from real estate joint ventures and limited partnerships 161.8 140.1 148.1
Interest 26.4 10.1 2.8
Dividends 32.5 47.5 44.9
TOTAL INVESTMENT INCOME 767.1 683.9 652.8
Expenses      
Investment management charges 72.6 69.3 70.7
Administrative charges 62.1 56.9 44.9
Distribution charges 27.7 23.9 17.3
Mortality and expense risk charges 1.2 1.1 0.9
Liquidity guarantee charges 38.4 31.7 29.2
TOTAL EXPENSES 202.0 182.9 163.0
INVESTMENT INCOME, NET 565.1 501.0 489.8
Net realized gain (loss) on investments      
Real estate properties (6.2) 215.4 69.0
Real estate joint ventures and limited partnerships 0.6 167.3 (34.7)
Marketable securities 25.6 235.8 65.4
Net realized gain on investments 20.0 618.5 99.7
Net change in unrealized appreciation (depreciation) on      
Real estate properties 317.5 487.2 918.8
Real estate joint ventures and limited partnerships 236.9 288.6 372.0
Marketable securities 30.0 (255.1) 302.8
Loans receivable 0.3 0.6 0.0
Mortgage loans payable 15.1 5.6 (64.9)
Net change in unrealized appreciation on investments and mortgage loans payable 599.8 526.9 1,528.7
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS AND MORTGAGE LOANS PAYABLE 619.8 1,145.4 1,628.4
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 1,184.9 $ 1,646.4 $ 2,118.2